EUR/USD Price Analysis: Bulls eye a break of key 1.0550 area, eyes on 1.0600

EUR/USD remains in a bullish structure with a focus on a break above 1.0600.
The bull's first challenge will be the micro trendline resistance and the 1.0550s.

Ross J Burland FXStreet

As per the prior analysis, EUR/USD bulls have committed to the course and remain on the front side of the bullish dynamic trendline support as the following will illustrate:

EUR/USD prior analysis

While on the front side of the daily trendline, it was noted that EUR/USD bulls were firming from near 1.0480 support and were taking on resistance around 1.0570.

A break there has opened the risk of a move in EUR/USD beyond 1.0600.

A move in EUR/USD below the trendline and 1.0490 would open prospects of a deeper correction towards 1.0400.

EUR/USD update

The price remains in a bullish structure while holding in the 1.05s and the focus for the opening sessions is on a bullish continuation:

EUR/USD H1 chart

The bull's first challenge will be the micro trendline resistance and the 1.0550s.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

GBP/USD rebounds above 1.3300 ahead of UK Retail Sales data

The GBP/USD pair recovers some lost ground to near 1.3325, snapping the five-day losing streak during the Asian trading hours on Friday. However, the potential upside might be limited amid heightened military tensions in the Middle East. Traders brace for the release of the UK Retail Sales data, which will be published later on Friday.

EUR/USD rises as US Dollar weakens despite rising Middle East tensions

EUR/USD gains ground after posting modest losses in the previous day, trading around 1.1380 during the Asian hours on Friday. However, the potential upside for the pair could be limited as the US Dollar may regain strength, largely driven by escalating conflicts in the Middle East that threaten to push crude oil prices higher.

Gold licks wounds near $4,050 on PMI day

Gold licks wounds near $4,050 in Asia on Friday, holding the previous day's heavy losses amid rising expectations of a Fed rate hike, bolstered by energy-driven inflation concerns. Moreover, the US-Iran standoff and US President Donald Trump's new tariffs keep the US Dollar's reserve-currency status alive, which continues to weigh on the bullion ahead of global flash PMIs.

Ethereum: Derivatives interest in ETH improves, but signs of caution remain

Ethereum is hovering slightly below the $1,900 level, down 3% on Thursday following a slight expansion in derivatives interest. The top altcoin's open interest has increased to 14.60 million ETH, marking a 600K ETH increase over the past two days and its highest level since June 7.

Silver's missing crisis trade: Why a war keeps pushing it down

The Strait of Hormuz has closed twice this year, and both times silver fell instead of rallying, because the crisis bid went into the US dollar rather than into metals. Silver trades near $58.77 an ounce as I write this, with the gold-silver ratio around 69.5.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.